Let’s face it – projects can be complex. With so many factors in the mix including budgets, timelines, vendors and scope, how do you know you’re getting the most value for your dollar? How do you know what you’re really paying for?
At JLL, we are completely upfront when it comes to your total project costs – and we’re able to do this because we have a comprehensive business intelligence (BI) platform in place. A platform that houses a strong internal data set of benchmark data and historical projects – including vendors, budgets and total costs – so we can make much more informed decisions, while breaking down costs for you across the board. When armed with the right benchmarking data, we can use data points as leverage in our negotiations, helping us get the best prices and service delivery for our clients. And we are transparent and competitive with our fees, so you know exactly what you’re getting when you hire us.
We ensure the best value for your money by partnering with vendors such as architects and engineering firms through our preferred supplier Synergy program. According to our BI platform, our Synergy architectural partners are averaging 6.45% of total project cost versus our non-Synergy architect partners who are coming in at an average of 7.93% of total project cost (for interior build outs and new build projects). In only two years, our 12 Synergy architectural firm partners have contributed to almost $2M in cost savings. To put this in perspective, if we used Synergy suppliers for all our projects, that number could exceed $38M in savings – with each project realizing between $1,300 – $25,000 in savings, depending on the project size. The same applies with our engineering partnerships. Our Synergy engineering partnerships are averaging 4.18% of total project cost while non-Synergy partners are averaging 5.23% of total cost. (Click here for much more detailed information on our Architecture and Engineering Synergy partners so that you can compare against your current rates.)
The bigger the project is, the more impact this differential has on your bottom line savings. Not only do you achieve real savings through Synergy, but you also save time through pre-negotiated contracts, mitigate risks through pre-qualification and receive the highest standards of service.
It all comes down to transparency
In a world where more and more architects and engineers are positioning themselves as ‘one-stop-shops’ when it comes to their clients’ design needs, we take pride in our approach. These firms offer fixed or flat fee structures with little transparency into how their costs break down, so it’s difficult to discern exactly what you’re getting. Are the right vendors being used for your project? How do these project costs compare to the industry? Is this approach the best value for your money?
With our BI platform and Synergy program, you can take all the questions and guesswork out of your project costs. Not only do you know exactly what you’re paying for, but we will also ensure you’re getting the best value for your dollar.
Do yourself a favor and take a look at your projects using your current architecture and engineering suppliers. If their rates exceed our JLL benchmark costs, use this data to have a conversation with your supplier or simply reach out to our Synergy team to determine which preferred suppliers are best suited for your project.
Having the proper BI tools in place can help project managers better negotiate with suppliers. When armed with the right benchmarking data, project managers can use data points as leverage in their negotiations, helping them get the best prices and service delivery for their clients. Having access to this type of intelligence delivers real value.
What is JLL’s Synergy Program?
Synergy is JLL’s branded preferred supplier program that provides clients the best quality service at the best price. We do this by leveraging our considerable U.S. spend to negotiate optimum pricing, service levels, quality, warranties and other benefits with more than 60 best-in-class suppliers around the world. To learn more, contact Samantha Mehal or Morgan Junia.
About the Author
Patrick Lyden is a Senior Business Intelligence Analyst for the Americas PDS Project Management Office. His responsibilities include management of PDS data governance and performance management programs, along with creation of various dashboards, reporting and benchmarking studies. Patrick also consults with various Corporate Solutions and Markets project management teams on individual engagements using data and analytics to help drive insights to the business. With over eight years of experience in business intelligence and project management Patrick has a track record of driving results through the use of technology, process and data across multiple teams.More Content by Patrick Lyden